Perks Chartered Accountants
Chartered Accountant Alert
 

Welcome to the June edition of Perks' Tax Alert- delivering you the latest tax developments affecting you and your business.

Proposed Amendments to the Tax Law
A Bill introduced by the government to amend various sections of the tax law, including the small business CGT concessions.

read more 

Deductibility of Self-education expenses
A Federal Court decision in which a taxpayer who received the Youth Allowance was allowed a deduction for self-education expenses.

read more 

Superannuation Warning
A Taxpayer Alert issued by the Tax Office warning SMSFs of arrangements involving the transfer of benefits associated with in-house assets transitional provisions.

read more

PAYG Instalments
An announcement by the government to reduce quarterly PAYG instalments for the 2009/10 income year.

read more 

Data Matching Projects
Three data matching projects the Tax Office will carry out.

read more

Reminder: Individual Tax Rates from 1 July 2009
Changes to the individual marginal tax rates and low-income tax offset.

read more

Federal Budget- June 2009

We are delighted to supply you with the June 2009 special edition of the Perks Tax Alert, which includes the 2009 Budget Report, summarising the important outcomes of the Federal Budget handed down on Tuesday, 12 May 2009.

Personal Taxation

  • Foreign employment income
  • Employee share schemes
  • Private health insurance rebate
  • Seniors Health Card
  • Medicare levy low-income thresholds
  • Seniors Supplement for self-funded retirees

Business Taxation

  • Small Business and General Business Tax Break
  • Repeal of unlimited amendment periods
  • Assets and deemed dividend rules
  • use of non-commercial losses restricted

Superannuation Measures

  • Changes to concessional contributions cap
  • Superannuation co-contribution
  • Reduction in pension drawdown
Other Measures
  • Increase in ASIC fees

To view the full Federal Budget-June 2009,
click here:



For further tax advice and to find out if and how these tax developments may specifically affect you, contact your Perks relationship manager.

This Tax Alert was compiled by Perks' Tax Consulting Specialists. For more information on these articles, contact Brian Nimmo or Neil Oakes. 

 

 



The following key dates are a guideline to allow clients to prepare for their taxation requirements.

5 Jun
2009 		 Income Tax  Lodgement and Payment 
21 Jun
2009		 Activity Statements May 2009 monthly activity statements: final date for lodgement and payment
30 Jun
2009		   End of financial year

Perks may be able to obtain extensions to the above dates for you if required. Please contact us to discuss your needs.

Contact Perks

Adelaide
247 Fullarton Road
Eastwood SA 5063
T: (08) 8273 9300
F: (08) 8274 1466
Web: perks.com.au

Victor Harbor
163 Hindmarsh Road
Victor Harbor SA 5211
T: (08) 8552 3711
F: (08) 8552 3771

Darwin
59 Smith Street
Darwin NT 0800
T: (08) 8941 8600
F: (08) 8941 9600

Alice Springs
73 Hartley Street
Alice Springs NT 0870
T: (08) 8953 4400
F: (08) 8953 4599

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The Perks Chartered Accounting Alert has been produced as a guide to clients. The items in this Alert are general comments only and do not represent advice. The facts of each particular situation may vary and changes in legislation may occur quickly and at any time. We recommend that our specific advice be sought before acting in any of these areas.

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